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Difference between vat & cenvat

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(Querist)
22 November 2014 what is the difference between vat & cenvat?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
22 November 2014 Vat is state levy earlier it was sales tax.
Cenvat is central levy earlier it was central excise.
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Amol S Joglekar

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Amol S Joglekar (Expert)
22 November 2014 VAT is Value added Tax. VAT is governed by the STATEs.
CENVAT : the phrase is typically used in cenvat credit. It refers to the credit of EXCISE (Now service tax also uses the same phrase as cenvat...input credit)




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